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pr 4-1a - Prison Watch Company Income Statement Income...

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Prison Watch Company Income Statement Income Statement For the Year End June 30, 2010 Fees Revenue $281,200 Rent Revenue $4,000 Total Revenues $285,200 Expenses: Salaries & Wages Expense $147,000 Advertising Expense $86,800 Utilities Expense $30,000 Travel Expense $18,750 Depr. Exp. - Equipment $6,000 Depr. Exp. - Building $2,500 Supplies Expense $1,525 Insurance Expense $900 Misc. Expense $5,875 Total Expenses $299,350 Net Loss $14,150
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Prison Watch Company Retained Earnings Statement For the Year Ended June 30, 2010 Retained Earnings, June 1, 2010 Net Loss for the year $14,150 Dividends $20,000 Decrease in Retained Earnings Retained Earnings, June 30, 2010
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$186,300 $34,150 $152,150
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Prison Watch Company Balance Sheet 30-Jun-10 Assets Current Assets: Current Lia Cash $5,100 Accounts Receivable $13,950 Supplies $500 Prepaid Insurance $2,700 Total Liabil Total Current Assets $22,250 Property, Plant, and Equipment: Land $80,000 Building $200,000 Less Acc. Depr. - Building $92,500 $107,500 Equipment $140,000 Less Acc. Depr. - Equipment $60,450 $79,550 Capital Sto Total Property, Plant, Retained E and Equipment $267,050 Total Stock Total Assets $289,300 Total Liabil
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Liabilities abilities: Accounts Payable $9,750 Sal. & Wages Payable
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